SE Asia Stocks-Mostly down; awaits signals from US jobs data
JAKARTA, Nov 7 (Reuters) - Most Southeast Asian markets closed lower on Friday, with Jakarta leading the fall, as investors cautiously waited for nonfarm payrolls data from the U.S due later in the day. Indonesian stocks posted the biggest decline in the region with a 0.9 percent fall, concluding the week with a 2 percent drop and its first week in the red in more than a month. "If the payroll data tonight shows significant improvement, investors are concerned that the Fed may raise rates earlier than expected," said Andri Zakarias, an analyst with BNI Securities in Jakarta. The number of people filing claims for unemployment benefits in the U.S. fell more than expected last week, data showed on Thursday. The government is expected to report Friday that nonfarm payrolls advanced 231,000 last month after rising 248,000 in September, according to a Reuters survey of economists. Adding to the pressure in Jakarta was disappointing GDP data and delay in the announcement of a fuel price increase. "The recent GDP data was bad while the uncertainty in the fuel price hike remains, which led to a correction in the index," Zakarias said. The Philippines stock index fell 0.4 percent with Bloomberry Resorts Corp, a Philippine gaming company dropping 7.7 percent. Brokerage Maybank KimEng downgraded the stock to 'hold' on Friday and cut the company's 2014 and 2015 net profit estimates by about 17 percent. Thailand fell 0.2 percent with a focus on stocks that have been added or deleted from MSCI's indexes, said Phillip Securities in a note on Friday. Thailand's Delta Electronics Capital PCl, an electronics manufacturer and distributor, jumped 14 percent after the stock was added to the MSCI Global Standard index, while hotel operator Central Plaza Hotel PCl fell 2.1 percent after it was removed from the MSCI Global Small Cap index. Bucking the trend, Vietnam index rose 0.8 percent on the day. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move Singapore 3286.39 3290.96 -0.14 Kuala Lumpur 1824.19 1831.98 -0.43 Bangkok 1578.37 1580.77 -0.15 Jakarta 4987.42 5034.23 -0.93 Manila 7205.72 7236.63 -0.43 Ho Chi Minh 602.59 597.85 +0.79 Change on year Market Current End 2013 Pct Move Singapore 3286.39 3167.43 +3.76 Kuala Lumpur 1824.19 1866.96 -2.29 Bangkok 1578.37 1298.71 +21.5 Jakarta 4987.42 4274.18 +16.7 Manila 7205.72 5889.83 +22.3 Ho Chi Minh 602.59 504.63 +19.4 (Reporting by Fransiska Nangoy; Editing by Biju Dwarakanath)
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